The information from Graded Assignment #3 is found in EXCEL tab titled ProdSch. Use that same data and the information you derived in Graded Assignment 13 to answer this problem. Micro C. operates in a perfectly competitive market where the following data indicates the market demand and supply information for widgets. P Qa P OS 2.00 1.80 1.60 1.40 1.20 1.00 0.80 0.60 0.40 0.20 10000 20000 30000 40000 50000 60000 70000 80000 90000 100000 0.30 0.40 0.50 0.60 0.70 0.80 0.90 1.00 1.10 1.20 65000 70000 75000 80000 85000 90000 95000 100000 105000 110000 Derive the revenue and profit data. Indicate the profit max labor-output combination Indicate why you know that your labor-output combination is the profit-max combination Write a report on your findings. Again, as in Graded Assignment #3. your grade will be based mainly on the thoroughness of your report more than the data derivation Again, make sure your narrative does not bleed" into the next page, ie the narrative should be readable on the same page This Gruded Assigment is to be submitted through Brightspace before 11:30 PM Sunday, November 22, 2020, Quantity 4 8 12 16 20 24 28 32 36 40 44 48 52 56 60 64 68 72 76 80 84 0 12 36 72 120 180 252 336 432 540 660 768 864 948 1020 1080 1128 1164 1188 1200 1200 1188 Micro Co produces a homogeneous product, widgets and you the production manager have been given the production schedule (given below) from your research department. $10 is the only fixed cost at all levels of output. Labor is the firm's only variable cost. Each worker is paid at the same wage, $7 per worker. Produce a table that shows all production data, marginal and average product, all cost data (both explicit and implicit), Indicate where increasing returns to scale, diminishing returns, and negative returns occur as well as the stages of production The information from Graded Assignment #3 is found in EXCEL tab titled ProdSch. Use that same data and the information you derived in Graded Assignment 13 to answer this problem. Micro C. operates in a perfectly competitive market where the following data indicates the market demand and supply information for widgets. P Qa P OS 2.00 1.80 1.60 1.40 1.20 1.00 0.80 0.60 0.40 0.20 10000 20000 30000 40000 50000 60000 70000 80000 90000 100000 0.30 0.40 0.50 0.60 0.70 0.80 0.90 1.00 1.10 1.20 65000 70000 75000 80000 85000 90000 95000 100000 105000 110000 Derive the revenue and profit data. Indicate the profit max labor-output combination Indicate why you know that your labor-output combination is the profit-max combination Write a report on your findings. Again, as in Graded Assignment #3. your grade will be based mainly on the thoroughness of your report more than the data derivation Again, make sure your narrative does not bleed" into the next page, ie the narrative should be readable on the same page This Gruded Assigment is to be submitted through Brightspace before 11:30 PM Sunday, November 22, 2020, Quantity 4 8 12 16 20 24 28 32 36 40 44 48 52 56 60 64 68 72 76 80 84 0 12 36 72 120 180 252 336 432 540 660 768 864 948 1020 1080 1128 1164 1188 1200 1200 1188 Micro Co produces a homogeneous product, widgets and you the production manager have been given the production schedule (given below) from your research department. $10 is the only fixed cost at all levels of output. Labor is the firm's only variable cost. Each worker is paid at the same wage, $7 per worker. Produce a table that shows all production data, marginal and average product, all cost data (both explicit and implicit), Indicate where increasing returns to scale, diminishing returns, and negative returns occur as well as the stages of production
